Technology has drastically transformed the banking industry and the way in which consumers transact. Mobile banking is now the new normal. Many consumers, especially millennials prefer to do most if not all of their financial transactions via smartphone due to the convenience in which it offers. Even so, the popularity of mobile banking does not imply that the end of retail banking is near as research has shown that consumers still prefer retail banking for complex services such as loan applications, new account openings and advisory services.
Download the whitepaper to learn—
• How to build a bank of the future by leveraging the Internet of Things
• How to increase security, ease system management and reduce operational costs
• The benefits of migrating to a thin-client infrastructure and going paperless
Much has been written about Payment Services Directive 2 (PSD2) and its potential to herald a new era of open banking where banks no longer have a monopoly on payment services. Instead they will be forced to provide full access to customer accounts to third parties looking to provide financial services of their own, on top of banks’ existing data and infrastructure.
All of this could prove to be true, just not on January 13th 2018, the deadline for national governments to transpose PSD2 into law. This is because there is still so much to be decided and clarified. The European Banking Authority’s longawaited regulatory technical standards (RTS) on strong customer authentication (SCA) were issued in March 2017 but missing some of the finer details, such as the methods to remotely access customer data and account information and the measures around the use of application programming interfaces (APIs) and screen-scraping.
Ein neues Security-Modell, das Sie verstehen und nachahmen sollten.
Die Security in Unternehmen ähnelte bisher einer Festungsstrategie, die Anwenderendpunkte abschottete und Mauern um das Netzwerk baute. Heutzutage kann diese Strategie die Nutzung von Mobile Devices und SaaS-Funktionen (Software-as-a-Service), die sich außerhalb der Festung befinden, nicht mehr unterstützen. Daher haben sich Chief Information Security Officers (CISOs) nach neuen Lösungen umgesehen, die diese Technologien heute sichern können und die sich einer Zeit anpassen, in der sich sowohl Bedrohungen als auch Unternehmensanforderungen verändern.
The banking industry is being pressured by two new forces simultaneously: an increasingly stringent regulatory environment that requires new levels of data governance, and a shift to digital business processes that introduces new, nimble competitors and empowers customers in new ways.
This E-Book is intended to provide information and insights on how banking executives involved in digital transformation can successfully navigate in this new and quickly evolving landscape.
Digitizing communications governance is critical as banks adopt next-generation automation and RegTech solutions to address compliance and risk-mitigation measures. Regulations are changing risk profiles, requiring oversight of the culture of risk-taking, and preventing market abuse.
Hitachi Vantara solutions enable you to centrally “capture, curate, consume” all regulated employee communications across the front office, middle office and back office.
Sixty-three percent of data breaches involve weak, default, or stolen passwords.
Why? To put it simply, password fatigue. Think of all the passwords you keep track of for your personal needs—your mobile banking app, your Gmail, your Facebook account, your Amazon Prime… the list goes on. Best practices tell us that we should use a unique and complex password for every service, but due to increased cloud adoption—enabling anytime access to applications from any device—users lean toward convenient but risky password practices.
Copenhagen’s strong asset management tradition has its roots in the Danish labour market model, where employees and employers have created a unique pension system. Since its inception in the 1970s, it has amassed assets of over EUR 500bn. Pension assets amount to twice Denmark’s GDP, which is more than four times the OECD average.
Experts agree that username/password authentication does not provide enough protection against unauthorized access. CIOs are challenged to increase authentication security while preserving operational and budget efficiency.
Revised Payment Services Directive (PSD2) is the European Commission (EC) and the European Banking Authority’s (EBA) newest regulatory directive to ensure customer security in the payments space, is upon us. In order to comply with these new regulations, you first need to ensure you have a good understanding of what they are, why they exist and how they will affect your organization’s business strategy moving forward.
Don’t let the potential business impact of PSD2 hang over your head. PSD2 can actually be a catalyst for your digital= transformation. With the right solution, you can provide a more secure, better user experience for your customers. If you are able to capitalize on PSD2 and implement a forward-thinking strategy, you can ultimately differentiate your brand from emerging competition — like neobanks, fintechs and wallet providers — and retain customer trust and loyalty.
Published By: Teradata
Published Date: Apr 30, 2014
In the past decade, banks have applied a vast array of strategies to attract new customers—free checking, high interest savings, low interest mortgage, cash deposits, and product give-a-ways. Many offers were bundles with credit, either in the form of a new credit line or in the form of low interest on transferred credit balances.
The purpose is to attract new customers who bring new account balances. Although successful in attracting new customers, those customers usually brought small balances. It didn’t matter if each account’s balance was small. The sum of these small account balances would be a very large amount. This new amount could be leveraged into loans and hence profits. – Download our whitepaper today!
Accelerating the Move to a Strong Online and Mobile Offering
For credit unions, offering members a digital and mobile banking experience has never been more accessible. This 29-page ebook shows you how to use electronic signature technology to improve the member experience (both in-branch and online), improve regulatory compliance and compete with big banks.
An introduction to electronic signature technology for banks:
What it is, why you need it, how it works and who in the banking industry is using e-signature solutions to automate customer-facing transactions. This guide answers common questions,
shares ROI metrics and outlines best practices based on 20 years of transforming business processes and customer experience with electronic signatures.
Revised Payment Services Directive (PSD2) is the European
Commission (EC) and the European Banking Authority’s (EBA)
newest regulatory directive to ensure customer security in the
payments space, is upon us. In order to comply with these new
regulations, you first need to ensure you have a good understanding
of what they are, why they exist and how they will affect your
organization’s business strategy moving forward.
Don’t let the potential business impact of PSD2 hang over your
head. PSD2 can actually be a catalyst for your digital transformation.
With the right solution, you can provide a more secure, better
user experience for your customers. If you are able to capitalize
on PSD2 and implement a forward-thinking strategy, you can
ultimately differentiate your brand from emerging competition —
like neobanks, fintechs and wallet providers — and retain customer
trust and loyalty.
ANZ Bank chose VMware AirWatch® to securely manage the bank’s fleet of more than 18,000 mobile devices that are used in 34 countries. ANZ Bank uses AirWatch to manage bankers’ company-issued mobile devices, and to manage digital tools such as Apple® iPad® kiosks in bank branches. Learn more about VMware AirWatch solutions built specifically for the finance industry.
There is a familiar refrain among CEOs today, perhaps best captured by the CEO of a major global financial institution who said, "We are no longer a bank, but a technology company in the financial services industry." IDC has accumulated dozens of similar quotes from executives across all industry segments. Digital transformation is at the heart of business strategies.
It takes more agile, end-to-end digitized processes based on a single source of information, from planning and execution to prediction and analysis, all in real-time, to provide a superior customer experience. Learn more about how digital transformation is impacting retail banking. Download a complimentary copy of the How Banks can Survive Digital Disruption white paper.
Published By: US Bank
Published Date: Feb 02, 2017
The average organization spends up to 10% of its annual budget on T&E, making it one of the largest controllable areas of discretionary spending. Combined with the fact that up to 90% of employee expenses are incurred on business trips each year, this means accurate expense management is more important than ever.
Yet many organizations still rely on manual processes and paper-based tracking that can create serious expense management challenges for their finance teams: how can they control costs when they lack visibility into spending? Yet how can they increase visibility and control without sacrificing employee trust and empowerment?
Streamlining expense management can help organizations save money, gain efficiencies and maintain control while increasing employee flexibility and freedom. But there’s no such thing as a “one size fits all” solution—different organizations require different solutions to meet their unique needs. However, when they start to consider their options, nearly
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